Ask Question
18 June, 17:14

Jenny Enterprises has just entered a lease agreement for a new manufacturing facility. Under the terms of the agreement, the company agreed to pay rent of $12,000 per month for the next 9 years with the first payment due today. If the APR is 6.36 percent compounded monthly, what is the value of the payments today?

+3
Answers (1)
  1. 18 June, 17:28
    0
    The value of the payments today = $990,072.84

    Explanation:

    jenny:

    rate = 0.0636/12

    n=9*12

    pmt=12000

    =PV (0.0636/12,9*12,12000,0,1)

    =$990,072.84
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Jenny Enterprises has just entered a lease agreement for a new manufacturing facility. Under the terms of the agreement, the company agreed ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers